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Math Assignment | Custom Assignment Help

Author:
October 16th, 2019

1.        Market Research

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       Market Research has determined the following changes in market shares based on the different combinations of music choices for the two clubs: if both clubs play country, the new club (Club 1) does very well with a 24% increase in market share.  If Club 1 plays country and the competing club (Club 2) plays rock, Club 2 gets a 12% increase in market share.  If these choices are reversed, Club 2 does even better and gets an 18% increase in the market share.  Lastly, if both clubs play rock, Club 1 does better and gets a 6% increase in market share.  This results in the following payoff matrix:

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Club 2

Club 1

Country

Rock

Country

(24, -24)

(-12, 12)

Rock

(-18, 18)

(6, -6)

 

 

 

 

 

 

Use this payoff matrix to determine if there are dominant strategies for either player.  Find any Nash equilibrium points.  Show all of your work Get mathematics  assignment homework help today

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